By Francis Moran
It is an article of faith that startups need funding.
For most, that means chasing external investors, whether they be friends and fools, angels or venture capitalists. Any CEO who has gone this route knows it can be an almost all-consuming task that gobbles up an inordinate share of that most restricted of resources, time. The biggest risk, besides failing to secure the necessary dollars, is that focus on the most critical objective of a new startup, developing and bringing to market an actual product, can take a back seat whilst the funding search is so fully engaged.
Too many startups fail to realise that there could well be another horse in the race to secure the money necessary to fund a new venture, a horse that is often running neck and neck with potential investors and that could, with a little judicious jockeying, beat the field to be the first past the funding post.
That horse is called your first customers and I am always amazed that so little attention is paid to this option.
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Thank you for being with us for the 10th month of our blog. In case you missed them, here is a recap of our posts from November.
Moving forward with our two new series, Technology Marketing 101, and A Startup’s Story, we introduced a new startup, Teamly, and explored how it is managing to drive steady organic growth on a shoestring, and shared Screenreach’s recent adventures in radio and television.
Beyond our series, we offered best practices on how small business can work with government and universities to bring technology to market, explained what makes a good PR person and also what makes a great entrepreneur. We discussed the prior art wall and its impact on patent coverage, the importance of creating a well-researched, well-funded and coherent marketing strategy and sticking to it, as well as the benefits and determents of Google Plus brand pages. Of course, this list of posts merely scratches the surface of all that was covered over the course of the month. You’ll have to read them for yourselves by clicking the links below. And, as always, we welcome your feedback.
November 7: Breaching academia’s ivory towers by Jason Flick
November 10: Driving steady organic growth on a shoestring by Francis Moran & Leo Valiquette
November 14: What an IP coordinator should know: The prior art wall by David French
November 18: Making waves in radio and television by Francis Moran & Leo Valiquette
November 21: Taking the higher ground: from product to leadership positioning by Ronald Weissman
November 23: The layman’s guide for bringing technology to market by Francis Moran & Leo Valiquette
November 28: Beware the million-dollar cheque! by Peter Hanschke
And on a related note…
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As part of our series examining the ecosystem necessary to bring technology to market, we asked veteran technology executive and investor Ron Weissman to share his thoughts on how startups can achieve success. This is the next of his commentaries and we welcome your comments.
By Ronald Weissman
Product checklists are the Silicon Valley product marketers’ crutch. They are so overused as to provide more cliché than caché, as they try “prove” that their product has better features than the other guy’s—as if that’s all that matters to buyers. Myopic marketers often forget to ask whether these checkbox differences are actually important to customers. While it has its place, checkbox marketing often conveys little about the brand or the underlying quality of the vendor – factors that may be as or more important to buyers.
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Thank you for being with us for the ninth month of our new blog. In case you missed them, here is a recap of our posts from October.
Moving forward with our two new series, Technology Marketing 101, and A Startup’s Story, we uncovered how startup BlueArc managed to move past the “wow” factor of its technology to achieve market penetration, explored the fine art of the business hustle and how it helped CommentAir Technologies bootstrap its way to market, explained how telling the right story helped Screenreach drive customer acquisition, and introduced a new startup, Genevolve Vision Diagnostics.
Beyond our series, we further investigated the roles of the IP Co-ordinator and social media champion, shared more best practices on PR and marketing and examined how the brain reacts to technology, among other subjects. And of course, we also paid our respects to the Pitch Innovator Steve Jobs. We welcome your feedback.
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By Francis Moran
When a product fails miserably in the marketplace, why is the customer blamed for not wanting to buy it?
Hang on, you say; that doesn’t happen, does it? Well, it did, and in spades, just last week.
Three well-established brands competed openly for the custom of a large pool of potential buyers. Their marketing campaigns used every media format available — television, radio, billboards and other outdoor, print, social media, telemarketing, direct mail, media relations, events and much, much more. Key spokespersons and local brand representatives travelled constantly throughout the marketplace bringing brand messaging directly to potential buyers. There has never been, perhaps, a more intensive, expensive and well-coordinated an effort to woo customers than was exhibited by these three brands.
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By Francis Moran
